AZEK (NYSE:AZEK) Sets New 1-Year High – What’s Next?

Shares of The AZEK Company Inc. (NYSE:AZEK) hit a new 52-week high during trading on Friday . The company traded as high as $54.69 and last traded at $54.65, with a volume of 72814 shares changing hands. The stock had previously closed at $53.48.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of AZEK from $48.00 to $58.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Royal Bank of Canada raised their target price on shares of AZEK from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. Truist Financial boosted their price target on AZEK from $52.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. DA Davidson raised their price objective on AZEK from $44.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Finally, Barclays boosted their target price on AZEK from $53.00 to $58.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $49.82.

AZEK Stock Performance

The business’s 50-day simple moving average is $46.85 and its 200 day simple moving average is $44.77. The firm has a market cap of $7.75 billion, a P/E ratio of 52.13, a P/E/G ratio of 2.36 and a beta of 1.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.14 and a current ratio of 2.17.

Hedge Funds Weigh In On AZEK

Several institutional investors have recently made changes to their positions in AZEK. Tidal Investments LLC grew its holdings in AZEK by 3.7% during the first quarter. Tidal Investments LLC now owns 7,060 shares of the company’s stock valued at $355,000 after purchasing an additional 251 shares during the period. CWM LLC raised its stake in AZEK by 24.4% during the 2nd quarter. CWM LLC now owns 5,099 shares of the company’s stock worth $215,000 after acquiring an additional 1,001 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in AZEK by 14.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,436 shares of the company’s stock worth $440,000 after acquiring an additional 1,308 shares during the period. Assenagon Asset Management S.A. lifted its holdings in AZEK by 136.0% during the second quarter. Assenagon Asset Management S.A. now owns 635,244 shares of the company’s stock valued at $26,763,000 after purchasing an additional 366,025 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in AZEK by 290.8% in the 2nd quarter. Raymond James & Associates now owns 121,623 shares of the company’s stock worth $5,124,000 after buying an additional 90,499 shares during the period. Institutional investors own 97.44% of the company’s stock.

About AZEK

The AZEK Company Inc engages in the design, manufacturing, and selling of building products for residential, commercial, and industrial markets in the United States and Canada. It operates through two segments: Residential and Commercial. The Residential segment designs and manufactures engineered outdoor living products, such as decking, railing, trim and molding, siding and cladding, pergolas and cabanas, and accessories under the TimberTech, AZEK Exteriors, VERSATEX, ULTRALOX, StruXure, and INTEX brands.